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Board adopts investment resolution and designates depositories, authorizes Trust INdiana participation
Summary
The board adopted an investments resolution, designated First Harrison Bank and First Savings Bank as depositories, authorized appropriation adjustments, and later approved participation in the Trust INdiana local government investment pool to process the tax refund exchange system.
At the finance session the South Harrison board approved a set of finance-related items including a declaration that the Board of Finance is composed of all board members, authorization for administration to adjust appropriations between accounts, review of the investment policy (Policy 6144) and adoption of a resolution for investments. The board designated First Harrison Bank and First Savings Bank as authorized depositories under Indiana code.
Separately, during new business the board approved a Memorandum of Understanding for the Association of Indiana Counties Tax Refund Exchange and Compliance System and authorized administration to establish accounts and participate in the Trust INdiana investment pool to process tax refund exchange accounts. Both finance and Trust INdiana actions were approved by recorded motions in the minutes.
